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Evolutionary realism: a new ontology for economics

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  • Kurt Dopfer
  • Jason Potts

Abstract

The renaissance in evolutionary economics in the past two decades has brought with it a great deal of theoretical development and interdisciplinary import. Much of this has been useful, but not all of it has been commensurate. In this paper, we make the case for the limits to theoretical developments that lack clearly specified ontological commitments by attempting an inductive synthesis of the ontological content of empirical generalizations in evolutionary economics. We call this 'evolutionary realism' and present it in three axioms - (1) all existences are bimodal matter-energy actualizations of ideas, (2) all existences associate, and (3) all existences are processes. We conclude with discussion of the sort of analytical framework that we might consistently build on these axioms; a three-level analytical structure of micro, meso and macro domains.

Suggested Citation

  • Kurt Dopfer & Jason Potts, 2004. "Evolutionary realism: a new ontology for economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 195-212.
    • Handle: RePEc:taf:jecmet:v:11:y:2004:i:2:p:195-212
    DOI: 10.1080/13501780410001694127
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    References listed on IDEAS

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    1. Ulrich Witt, 2003. "The Evolving Economy," Books, Edward Elgar Publishing, number 2477.
    2. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(6), pages 873-892, November.
    3. Jason Potts, 2000. "The New Evolutionary Microeconomics," Books, Edward Elgar Publishing, number 2258.
    4. Ulrich Witt, 2002. "Generic Features of Evolution and Its Continuity -- a Transdisciplinary Perspective," Papers on Economics and Evolution 2002-10, Philipps University Marburg, Department of Geography.
    5. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521772839, September.
    6. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281.
    7. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521775267, September.
    8. Kurt Dopfer & John Foster & Jason Potts, 2004. "Micro-meso-macro," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 263-279, July.
    9. Kurt Dopfer, 2004. "The economic agent as rule maker and rule user: Homo Sapiens Oeconomicus," Journal of Evolutionary Economics, Springer, vol. 14(2), pages 177-195, June.
    10. John Foster & J. Stanley Metcalfe (ed.), 2001. "Frontiers of Evolutionary Economics," Books, Edward Elgar Publishing, number 2234.
    11. Jason Potts, 2001. "Knowledge and markets," Journal of Evolutionary Economics, Springer, vol. 11(4), pages 413-431.
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